We Live in Exciting Times.

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Chipotle CEO Brian Niccol dismisses 'shrinkflation' claims, highlighting standard portions in most restaurants but acknowledging isolated incidents of reduced servings. He credits sales growth to popular menu items and staff training. A prior investigation showed no intentional skimping. Chipotle combats accusations by reinforcing portion consistency and customer satisfaction. Despite price hikes in response to wage increases, the company reports substantial revenue and sales growth. Niccol confronts TikTok and viral videos, reaffirming the importance of ample portions and employee integrity. Investors react positively, boosting stock by 13%.

Marathon Digital, a leading Bitcoin miner, focuses on developing Bitcoin Layer-2 solutions for efficient cross-border payments. The company, under Julian Duran's guidance, prioritizes partnerships to address high costs and slow settlement in emerging markets. Regulatory compliance is vital, particularly in developing nations. Additionally, Marathon ventures into tokenizing real-world assets like whisky and castles. Transitioning into a multifaceted tech platform, Marathon revolutionizes the mining industry with innovations in energy, smart contracts, and cooling systems. By introducing the Anduro side chain, they unlock new possibilities for Bitcoin in Web3, tapping into smart contracts and enhancing mining companies' value. Marathon's tech influence, showcased on CNBC, fuels optimism by highlighting potential Bitcoin growth, ETF market activities, and the company's strategic tech plans.

As Paris prepares for the opening ceremony of the Summer Olympic Games, the city is filled with excitement and tension. The Olympics are taking place against a backdrop of political instability in France, with protests and potential disruptions looming. The geopolitical tensions surrounding the event include U.S. investigations into Chinese doping, political instability in France and the U.S., and the banning of Russia due to the Ukraine war. Smaller nations' victories can have broader political implications, while the cultural exchange between athletes remains a unique benefit. However, the anticipated boost in sales for Parisian businesses has not materialized, with security measures, transportation disruptions, and high prices deterring tourists. The historic Marais district, in particular, has seen a significant drop in business for shops and restaurants. Viewership for the Paris Olympics may also be low, except for events featuring stars like Simone Biles. The opening ceremony will feature athletes arriving by traditional boats along the Seine, showcasing famous landmarks. However, the organization of the opening ceremony has faced challenges, with long queues, ticket sale problems, and delays. Despite these issues, the French authorities have taken extensive security measures to ensure the safety of the event.

Germany is making strides in fiber optic expansion with Telekom and Deutsche Glasfaser leading the way. Telekom's tariffs range from 150 Mbit/s to 1 Gbit/s, with 2 Gbit/s speeds available through XGS-PON technology. VDSL stands at 100 Mbit/s, with future increments at 300 and 500 Mbit/s. Despite progress, infrastructure remains fragmented. The 'Gigabit Offensive' aims for 50% fiber coverage by 2025 and 100% by 2030, investing €38 billion. However, concerns over competition arise, with BREKO criticizing the law's oversight on copper-to-fiber transition and Deutsche Telekom's pricing impacting competitiveness.

DeepMind's AI models, AlphaProof and AlphaGeometry 2, achieved a silver-medal standard in the International Mathematical Olympiad. This success comes as Alphabet spends $2.3 billion on AI research in Q2, OpenAI launches SearchGPT to challenge Google's search engine, and IBM introduces AI-Hilbert, a machine learning framework that integrates algebraic geometry and mixed-integer optimization for scientific discovery. SearchGPT aims to provide fast and concrete answers, but a recent example showed a flaw, raising concerns about the reliability of information. Despite this, Microsoft and Google are integrating AI-generated summaries into their search engines. OpenAI plans to improve SearchGPT's technology and integrate it into ChatGPT. Meanwhile, AI-Hilbert models laws and axioms as polynomials, solving optimization problems to derive scientific laws. Future work includes extending the framework to non-polynomial contexts and optimizing scalability.

Huawei's success in China sees a 41% sales increase to 10.6 million units, positioning them to surpass Apple's dwindling market presence. The ban on Huawei components for 5G networks contrasts with the company's rise in smartphone sales, expected to reach over 50 million units. Apple's drop from the top 5 smartphone brands in China, now at 6th place, reflects the dominance of domestic vendors Vivo, Oppo, Honor, Huawei, and Xiaomi in the market. Despite US trade restrictions, Huawei closes the gap with Apple in the high-end market segment, while Apple resorts to discounts to stimulate demand. The competition underscores Chinese brands' leadership in AI technologies and localized services, reshaping the landscape of the Chinese smartphone market.

European and Asian stocks show mixed reactions amid Fed rate cut expectations and tech sector weakness. Despite a Chinese policy easing outlook, the CSI 300 faces its worst week since February. Meanwhile, US GDP growth accelerates, prompting concerns about inflation risks. In the corporate world, Mercedes-Benz reports a 19% earnings drop, while Eni raises profit guidance. Elsewhere, the Nasdaq 100 experiences a tech slump, and the yen gains traction, fueling speculation of a BOJ rate hike. Hong Kong stocks rebound on hopes of Chinese policy easing, with notable gains in various sectors. Amidst uncertainty, the DAX and Wall Street exhibit stability, with Ford facing challenges in the electric vehicle market. Analysts anticipate future US interest rate cuts and identify opportunities in the current market climate.

Workers at Luxury Hôtel du Collectionneur in Paris strike over pay freeze, demanding increased salary and 13th month pay. Despite hotel's lucrative contracts, negotiations stall. Meanwhile, Olympic Village faces catering issues with athletes unsatisfied with food quality and quantity. Team GB brings own chefs, 13 million meals served, but reports of raw meat. Sodexo Live! and Carrefour supply food, but staff forced to ration eggs. Despite challenges, management aims to uphold guest experience and provide diverse dining options.

OpenAI is testing SearchGPT, an AI-powered search engine that aims to provide fast, up-to-date answers while citing sources. It will be integrated into ChatGPT, competing with similar features from Perplexity and Google. The Atlantic's CEO sees AI search as a key future tool. OpenAI pays selected publishers like News Corp to use their content in SearchGPT through a Preferred Publisher Program. SearchGPT will likely drive less traffic to websites compared to traditional search engines.

Cybersecurity firm Wiz opts out of $23 billion Google acquisition due to antitrust worries, focusing on IPO for strategic independence. CEO Rappaport eyes $1 billion revenue, rejecting Google's offer. Regulatory risks, market uncertainties influence decision. Tech giants face hurdles in acquisition deals. Wiz values long-term vision, turns down potential suitors. Founder-led firm prioritizes control, rejects investor pressure. Decision highlights challenges in large deal cancellations and regulatory scrutiny. Startup's move signifies confidence in growth and IPO validation. Google's interest sparks questions on Wiz's market impact. Acquisitions face delays, disputes over terms, due diligence, and regulatory signals. Wiz's choice reflects caution in selling below potential value amidst competitive market dynamics.

Deutsche Bank reported a quarterly loss due to Postbank provisions, with investment banking being the driving force behind the business. Despite a pre-tax profit of 1.7 billion euros, the Postbank acquisition fell short of expectations and continues to pose challenges. The loss in the second quarter of 2021 amounted to 143 million euros primarily because of a significant provision of 1.3 billion euros for the Postbank takeover dispute. The bank's revenue increased by two percent to 7.6 billion euros, resulting in a half-year profit of 1.1 billion euros from a total revenue of 15.4 billion euros. Following a strategic shift last year focusing more on Europe to mitigate risks, Deutsche Bank aims to achieve its 2025 objectives. Shareholders criticized the handling of the Postbank acquisition issue, while the integration caused customer problems prompting regulatory intervention. The bank, although witnessing growth in the investment banking sector, faced a rise in risk provisions. Deutsche Bank plans further cost-cutting measures, aiming to continue shareholder payouts, and mourns the passing of former CEO Rolf Breuer.

Coinbase is pushing for access to Gary Gensler's private emails, seeking records related to its public offering and SEC staff conversations. The SEC resists, citing lack of relevance and undue burden. A federal judge hesitates on granting access to Gensler's personal devices. Coinbase's lawsuit, accused of securities violations, could influence U.S. crypto policy. The dispute highlights the clash between Coinbase and the SEC over regulatory compliance.